The Bank of Israel bought $1.027 billion of foreign currency in June, it said on Tuesday "in order to maintain the orderly functioning of the markets".
It had bought $801 million of forex in May.
The shekel FX_IDC:USDILS in late May hit a 33-year high of 2.80 per dollar, raising concerns among exporters. It has since moved back to 3.02 after the intervention and two successive rate cuts in May and on Monday.
Overall, Israel's foreign currency reserves hit a record $238.699 billion in June.